Neo Performance Materials signs MOU with Rainbow Rare Earths for Phalaborwa rare earth offtake
Bitget2026/09/24 06:00- Neo Performance Materials signed an MOU with Rainbow Rare Earths covering technical support, rare earth separation technology, and offtake from Phalaborwa, South Africa.
- Offtake rights cover 40% of annual separated NdPr oxide output, 65% of annual mixed heavy rare earth carbonate production.
- Neo will support design and optimization of the final solvent extraction separation circuit; testing is underway in Estonia, pilot work planned in Johannesburg.
- Parties will assess toll treating the remaining 35% of mixed carbonate at Neo facilities, returning separated products to Rainbow.
- Arrangement targets additional magnet rare earth feedstock for Neo’s European operations from phosphogypsum waste, reducing reliance on new mining.
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